Septerna valued at $970 million as shares rise nearly 31% in Nasdaq debut (updated)

Septerna

25/10/2024 17:20

(Adds details of the IPO in paragraph 2)
       Oct 25 (Reuters) - Septerna's  SEPN.O  shares rose about
31% in their market debut on Friday, giving the Goldman
Sachs-backed biotech firm a valuation of $970 million. 
    The company's shares opened at $23.5 in their Nasdaq debut,
compared with the IPO price of $18. Septerna upsized its
offering twice on Thursday to sell 16 million shares, to raise
$288 million. 
   Biotech firms' public listings have received a warm reception
from investors in recent times. September turned out to be one
of the busiest months for healthcare IPOs, as per Dealogic data.

 (Reporting by Pritam Biswas in Bengaluru; Editing by Vijay
Kishore)
 ((Pritam.Biswas@thomsonreuters.com;))